NIKE TO HELP OUT WORLD MASTERS GAMES PAY OFF CREDITORS?

Organizers of the "financially strapped" World Masters
Games "are attempting to persuade creditors to accept 75
cents on the dollar of their debts," according to Jeff
Manning of the Portland OREGONIAN. Outgoing Portland Oregon
Sports Authority President Scott Andrews said the group "has
given up on its plan to seek financial help from the city
and state." Some creditors have already agreed "to accept
as little" as 50% of what they are owed. However, Games
officials have "persuaded corporate backers to come up with"
about $300,000 in additional funds, "reducing" the Games
shortfall from $500,000 to about $200,000, and sources said
that Nike "agreed to furnish a significant percentage of the
additional money." The August games drew less "than half
the competitors predicted by organizers" and "was marred by
disappointing participation and fell far short of the
predicted local impact" (Portland OREGONIAN, 10/31).